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Electrum Bitcoin Wallet to Support Lightning Network in Next Release

Major Bitcoin wallet software Electrum will feature an in-house developed implementation of scalability solution Lightning Network in its next release. The next release of major Bitcoin (BTC) wallet software Electrum will support off-chain scalability solution Lightning Network (LN). The Electrum official Twitter account announced the upcoming LN integration in a tweet sent on Oct. 14. The tweet announced: “The next release of Electrum will support Lightning payments. Our lightning node implementation has been merged into Electrum's master branch.” Electrum also confirmed that the wallet will employ a new implementation developed in-house, written in Python. High hopes for Lightning NetworkLightning Network is believed by many Bitcoin proponents to be the solution to the network’s scalability limitations. Recently, the chief strategy officer at Bitcoin technology firm Blockstream has said that the current block size capacity may not even be needed in the future if off-chain scali..

Ripple’s Xpring Invests in Crypto Wallet Provider BRD to Integrate XRP

Ripple’s investment arm Xpring has invested in cryptocurrency wallet BRD to enable users to hold, purchase, sell and spend XRP tokens through the wallet. Ripple’s investment arm Xpring has invested into cryptocurrency wallet BRD to enable users to hold, purchase, sell and spend XRP tokens through the wallet. Xpring announced the development in an Oct. 11 blog post, noting that BRD — a mobile cryptocurrency wallet, with a reported user base of 2.5 million — will build on the Xpring platform to support and integrate XRP. Large user base and geographyBy selecting BRD, Xpring ostensibly focused on the wallet’s large user base and territorial coverage of 170 countries, as well as the company’s healthy growth in key metrics such as transaction volume. The post further suggests that this could result in new kinds of decentralized financial (DeFi) services, including banking, lending and peer-to-peer transactions that require no intermediaries. This June, BRD partnered with blockchain payment..

Tim Draper Bets on New .Crypto Domain to Replace Wallet Addresses

Tim Draper-backed Unstoppable Domains has launched its blockchain domain registry to boost adoption of Bitcoin and cryptocurrency. Tim Draper-backed Unstoppable Domains has launched its new .crypto domain registry on the Ethereum blockchain. The registry allows users to connect any cryptocurrency address to their domain, enabling payments to be made using just the domain name, according to a press release published on Oct. 11. Alleviating the need for length wallet addressesTo make a payment, one only needs to know the blockchain domain. This alleviates the need for copying and pasting unwieldy cryptocurrency wallet addresses. Unstoppable Domains believes that this simplifying of cryptocurrency payments will lead to more widespread adoption. CEO, Matthew Gould stated: “We believe that tribalism in the crypto community is slowing down adoption of the technology. .Crypto is a domain name system meant to be used for any cryptocurrency payment and with any cryptocurrency wallet.” Multiple..

5 Things to Know About Grams Wallet’s Terms of Use Before...

Encrypted messaging service Telegram has published the terms of service for its native cryptocurrency wallet Grams Wallet. Cloud-based instant messaging service Telegram has released terms of use for its native cryptocurrency wallet Grams Wallet. On Oct. 8, Telegram published terms of service the Grams Wallet, the wallet designed for its native cryptocurrency Gram (GRM), noting that the rules apply whether as a standalone application or as incorporated into the Telegram Messenger application. 1. Taxes, regulationIn the statement, Telegram emphasized that the Grams Wallet should not be used in jurisdictions where its services are prohibited by any applicable law, regulation or rule, including embargoes, sanctioned countries and sanctioned individuals. Telegram also stressed that its customers are responsible for determining what taxes apply to use of Gram services. The firm wrote: “We are not responsible for determining whether taxes apply to any transactions you make using the Service..

Algo Capital Ex-CTO Takes ‘Full Responsibility’ for Hot Wallet Breach

Algo Capital ex-CTO Pablo Yabo publishes a statement in the wake of a major security breach of a hot wallet under his personal management. The now-former chief technical officer (CTO) of Algo Capital, the investment arm of blockchain firm Algorand, has published a statement in the wake of a major security breach of an Algo hot wallet under his personal management. As Cointelegraph recently reported, Algo Capital CTO Pablo Yabo’s cellphone was compromised by hackers, leading to the theft of roughly $1–2 million in Tether (USDT) and Algorand (ALGO) tokens from an Algo hot wallet. Securing funds “in a versatile manner” remains difficultIn his statement, Yabo wrote that the incident had provoked considerable reflection on his part, adding: “The state of the ecosystem and the difficulties to secure and operate funds while doing it in a versatile manner. It is still very complicated to secure funds for institutions that need them readily available. Until this interface problem is not solved..

Algorand’s Venture Arm Loses up to $2M in Hot Wallet Breach:...

An investment arm of United States-based blockchain firm Algorand loses up to $2 million in crypto after its CTO’s phone was hacked. Algo Capital, an investment arm of United States-based blockchain firm Algorand, has lost roughly $1–2 million in Tether (USDT) stablecoins and Algorand (ALGO) tokens after its CTO Pablo Yabo’s mobile phone was compromised. The breach allowed hackers to gain access to Yabo-managed Algo hot wallet, a source familiar with the matter told Coindesk on Oct. 5. The total amount of damages was reported in an email by the company’s CEO David Garcia. He confirmed the security breach and claimed that the firm passed the details of the incident to its limited partners, according to the article. Full reimbursement in 20 monthsCiting an anonymous source, the report says that Algorand is aware of the breach suffered by Algo Capital so far. The company will take full responsibility for the loss and plans to reimburse the entire amount in 20 months, Garcia reportedly wr..

Redditor Spots Imposter Website for Trezor Bitcoin Wallet

A Redditor has discovered an apparent imposter website for Bitcoin hardware wallet Trezor. A Redditor has apparently spotted an imposter website for Bitcoin (BTC) hardware wallet Trezor. “Imposter site trying to steal your Bitcoin”On Oct. 4, Reddit user castorfromtheva posted about the website, stating that they conducted a test to confirm that it was not genuine. They said: “I just made a little 'typo' test and entered 'tezor[dot]io' where I obviously left out the 'r'. I was instantly redirected to a site called https://trezor[dot]run/start/ which is not the original trezor site (the correct size is respectively” The Reddit user said that a URL typo would indeed redirect the user to the Trezor scam site while possibly installing compromised firmware. Bitcoin engineer and self-proclaimed BTC maximalist Jameson Lopp took to Twitter to warn about the fake website. Lopp — who is also CTO at Bitcoin key security sy..

Wallet Provider Sees a String of Exec Departures: Report

U.K.-based cryptocurrency data and wallet provider has come under the spotlight after a string of executive departures. United Kingdom-based cryptocurrency data and wallet provider has come under the spotlight after a string of exits by company employees. Citing sources familiar with the matter, an article published by The Information on Oct. 2 claims that Blockchain’s longest-serving senior executives — COO Liana Douillet Guzmán and Chris Lavery, executive vice president of finance — are both expected to leave. Their departures, if accurately reported, would be just the latest in a steady stream of team members calling it quits on the startup, The Information alleges. A series of swift executive departuresAccording to the report, several executives have previously left Blockchain within just 12 months of hiring. They include the firm’s head of institutional sales and strategy, its global head of institutional markets, the general manager of its flagship ..

Caitlin Long: New Wyoming Law Will Protect Privacy of Wallet Keys

Wyoming Blockchain Coalition president Caitlin Long hints at two new state laws she believes will be highly popular among cryptocurrency developers and owners. Wyoming Blockchain Coalition president Caitlin Long hinted at two new prospective state laws she believes will be highly popular among cryptocurrency developers and owners. In an interview during Peter McCormack’s podcast on Sept. 27, the 22-year Wall Street veteran and cryptocurrency activist reflected on the pioneering crypto legislation already passed — and reportedly planned — in her home turf, the United States state of Wyoming. New laws would protect blockchain developers as well as privacy of wallet keysAccording to Long, the first of the two new laws to reportedly be proposed will state that: “Anyone in the state of Wyoming cannot be compelled in a criminal or civil or administrative or legislative hearing or anything, any other proceeding to disclose [their] private keys.” The second, she continued, would bolster prote..

Fusion Network’s Token Swap Wallet Compromised, FSN Price Plummets

Fusion Network’s swap wallet was compromised, resulting in roughly a third of FSN tokens stolen. Fusion Network’s token swap wallet was compromised. Roughly a third of FSN tokens was stolen as a result. Fusion Foundation announced in a Medium post published on Sept. 29 that its swap wallet was compromised, which resulted in the theft of 10 million native FSN and 3.5 million Ethereum (ETH)-based ERC-20 FSN tokens. The Foundation’s investigation has not revealed any other affected wallets so far. The alleged cybercriminal reportedly already started to launder the coins: “After the currency was stolen, abnormal wash-trading behaviour occurred, and some of the stolen tokens were sold across exchanges, in particular Bitmax and Hotbit.” Private key stolenThe attacker reportedly obtained access to the wallet by stealing the private key associated with it. The author of the post claims that “the Fusion Protocol and technology itself has been and remains secure.” In an attempt to prevent the l..
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